Brooke Southall

It is interesting to see that the aggregate number of firms has stayed roughly static at around 29,000.

I thought the number of new firms would outpace the numbers of those that were acquired or just went out of business.

Thanks for sharing this interesting information.

Mike Byrnes, President Byrnes Consulting, LLC http://byrnesconsulting.com/ http://twitter.com/ByrnesConsultin

Julie’s RIA data is the most accurate becuase her team looks at each RIA’s website to see what their business really does. Most of the RIA data we receive inflates the growth of true wealth management. Julie’s firm is a good reality check that independent wealth management is growing BUT it is still small relative to the large financial services providers. Hate to say that Sallie Krawcheck might be right…at least until the retention checks expire:)

“We are easily convinced by data.” Nice work. This really is a tiny market segment in terms of numbers and AUM, especially if compared to brokers. If one factors in retirement by Boomer owners, it will likely shrink. It is just a whole lot easier to be a broker.

Six things to know about how and where RIAs are growing 

Julie Cooling: In 2009, we were seeing (on average 120-150) RIAs (of all kinds) new per month and 160-280 per month in 2010. 

Shareholder Services Group

Trade-PMR

RIA Database

Julie Cooling

The RIA business is many good things but integrated from a gender standpoint is not one of them. This is not so great. Women are the majority of humanity and they have an asset-building strategy that can't be beat. Women outlive their beer-and-steak mates and end up with big estates. But today's women have too another strategy -- pursuing wealth in the workplace. Yet when they go to find fellow women to talk all this through with, they don't readily find them. 

Companies big and small have for decades fallen over themselves to say that they have women's initiatives but I can't think of one that has amounted to much. But there are stories-- dozens or hundreds -- of them about women exerting their influence on this business and we are starting to collect them. It's a starting place -- documenting the ground being covered by women in the form of engaging tales graphically depicted by the physiognomy of the fairer sex.

Women of Wealth Management

Wealth managers are being added at a high rate; California is king

Six things to know about how and where RIAs are growing

Mike Byrnes

Jeff Spears

Elmer Rich III

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